Citic Pacific profits rise by 9 percent on energy sector
Profits of Citic Pacific, the builder of the world’s biggest magnetite mine in Australia, rose by 9 percent in 2013 based on good performances by its special steel and energy businesses. Net income last year was HK$7.6 billion ($980 million), the company said on Feb 20. Profits from the special steel business soared by 519 percent in 2013 to HK$1.3 billion. to increase Airbus’ share in the Harbin Hafei Airbus Composite Manufacturing Center from 20 to 25 percent. The European airplane manufacturer did not release further details about the transaction. The center in Harbin, Heilongjiang province, is owned by Airbus and a group of Chinese partners, including some subsidiaries of AVIC.